Belfast-based company StormHarvester has received £8.4m funding to boost its international expansion and staff numbers.
StormHarvester is a software company that relies on machine learning and rainfall forecasting to prevent avoidable flooding by using a prediction and anomaly detection approach.
Several water companies rely on StormHarvester’s technology.
Funding to Expand Product Range and Reach New Markets
The funding will help expand the company’s product range, its sales and marketing capabilities, and will accelerate growth into new markets such as North America.
Backers in the funding round included YFM Equity Partners and Emerald Technology Ventures.
CEO Brian Moloney Comments on Investment Impact
StormHarvester founder and CEO, Brian Moloney, said: “This significant investment represents a transformative step in our company’s journey, fuelling our expansion and creating exciting opportunities for Northern Ireland's job market.
“We’re thrilled to announce new positions spanning sales and marketing roles to drive our global reach, alongside cutting-edge technical roles that will shape the future of our smart technology as we advance our innovative product roadmap.”
